Recent events have shaken the trading community with the abrupt closure of two well-known prop trading firms, Funded Trader (TFT) and Skilled Funded Trader (SFT). What once seemed like a promising opportunity for traders to showcase their skills and potentially earn payouts has turned into a nightmare, leaving many with pending or denied payouts, halted account migrations, and widespread chaos in community channels.
The Alarming Truth:
Adding to the distress is the discovery that both TFT and SFT were subsidiaries of Easton Tech, a single-tech enterprise. This revelation unveils a broader pattern of deceit, as numerous other prop firms under Easton Tech’s umbrella are experiencing similar fates. The common denominator? A glaring lack of transparency and questionable business practices.
A Devious Scheme Uncovered:
Upon closer scrutiny, it becomes evident that the closure of these prop firms was not an oversight but a meticulously planned scheme to deceive traders and clients. The sudden cessation of operations, along with the disabling of community channels, paints a grim picture of intentional deceit.
Warning Against False Assurances:
In response to the outcry, the Board of Directors has pledged to revive the prop firms with improved performance. However, these promises should be met with skepticism. There are no assurances of future sustainability or transparency in their operations. Moreover, reports of exclusive discounts on funded accounts only fuel suspicions about their intentions.
A Call to Vigilance:
In the wake of these events, traders must exercise utmost caution and avoid any dealings with prop firms affiliated with Easton Tech. The risk of falling prey to their deceptive tactics far outweighs any potential gains. Instead, traders should seek out reputable firms with a proven track record of honesty and integrity.
Conclusion:
The collapse of Funded Trader and Skilled Funded Trader serves as a sobering reminder of the inherent risks within the trading industry. It underscores the vital importance of due diligence and vigilance when selecting a prop trading firm. By remaining vigilant and steering clear of entities with dubious reputations, traders can shield themselves from similar schemes in the future.
